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Bewertung von Aktienoptionen

Bewertung von Aktienoptionen

          
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About the Book

Inhaltsangabe: Einleitung: Derivative Finanzprodukte, insbesondere Aktienoptionen, erfreuen sich in der Finanzwelt immer größerer Beliebtheit. Sie ermöglichen es sowohl den Privatanlegern als auch den professionellen Anlegern Risikopositionen abzusichern und können die Grundlage für eine konservative Anlagestrategie sein. Aber auch als Spekulationsobjekt können sich Aktienoptionen für Investoren anbieten und haben schon so manchen Investoren sagenhafte Gewinne, aber auch Verluste beschert. Unabhängig von den Motiven der Investoren für ein Engagement in Aktienoptionen ist es für die Umsetzung einer erfolgsversprechenden Anlagestrategie von entscheidender Bedeutung, die „richtigen" Aktienoptionen zu wählen. Neben den zahlreichen Kennzahlen, die für Aktienoptionen existieren, um die Auswahl zu erleichtern, ist das Hauptaugenmerk auf den „fairen" Wert der Aktienoptionen gerichtet. Die Optionstheorie hat sich zur Aufgabe gemacht, diesen „fairen" Wert zu ermitteln, um damit Optionen objektiv bewerten zu können. Ziel dieser Arbeit ist es, die Möglichkeiten aufzuzeigen, welche bestehen, diesen „fairen" Wert einer Aktienoption zu bestimmen. Im Vordergrund stehen dabei die Gleichgewichtsmodelle von Black & Scholes sowie das Binomialmodell, welche ausführlich hergeleitet und kritisch betrachtet werden. Das Black & Scholes Modell ist wohl das bekannteste Modell zur Bewertung von Aktienoptionen Es wurde im Jahre 1973 von Fischer Black und Myron Scholes vorgestellt und ist seitdem wegweisend für die Entwicklung der Optionstheorie. Gang der Untersuchung: In der vorliegenden Arbeit werden im zweiten Kapitel die Grundlagen für die Bewertung von Aktienoptionen dargestellt. In Kapitel 3.1 wird eine Übersicht über Optionsbewertungsmodelle gegeben. Anschließend erfolgt in 3.2 eine Herleitung vom Binomialmodell, welches von Cox, Ross und Rubinstein entwickelt worden ist. Dieses Modell zeichnet sich durch seine einfach gehaltene mathematische Darstellung aus und ermöglicht einen sc


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Product Details
  • ISBN-13: 9783838694344
  • Publisher: Diplom.de
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 4 mm
  • Width: 148 mm
  • ISBN-10: 3838694341
  • Publisher Date: 12 Mar 2006
  • Height: 210 mm
  • No of Pages: 70
  • Series Title: German
  • Weight: 104 gr


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